Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.
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Question 1: Pooling of risk in insurance means that?
Options:
A) compensations are paid out of a common fund
B) two people can pool their risks to be insured
C) two insurance companies can buy two policies
D) insurance companies should encourage taking risks.
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The correct answer is A .
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Question 2: One of the main obstacles of establishing the Niger River Basin Commission was to?
Options:
A) embark on a comprehensive survey of the available water resources
B) carry research for the development of fresh water fisheries
C) develop infrastructure to facilitate economic activities
D) promotes trade among member-state to improve standards of living
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The correct answer is C .
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Question 3:
One of the obstacles to achieving the objectives of ECOWAS is?
Options:
A) lack of a common currency
B) colonial linkages
C) sovereignty of state
D) language difference
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The correct answer is D .
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Question 4: The main frame of selling directly to the consumers by manufacturers is to?
Options:
A) reduce transportation cost
B) make contact with individual consumers
C) discourage the activities of middlemen
D) maximize profit margin
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The correct answer is C .
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Question 5: One of the function of the Niger Basin Commission is to
Options:
A) Ensure equal treatment of African nations
B) Foster closer co-operation among West African nations
C) Map out regulation that will guide all navigation for all West African nations
D) guarantee freedom of navigation for all West African nations
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The correct answer is C .
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Question 6: Capital as a factor of production can be used as?
Options:
A) Money that is regarded as assets
B) Goods that are useful in business
C) Input for further production
D) Services that provide satisfaction
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The correct answer is C .
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Question 7: The service of a textile worker are an example of?
Options:
A) extractive activity
B) commercial activity
C) manufacturing
D) construction
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The correct answer is C .
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Question 8: The three components of staffing are?
Options:
A) recruitment, selection and placement
B) recruitment, interview and appointment
C) recruitment , test and placement
D) recruitment, procurement and appointment
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The correct answer is A .
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Question 9: A document which advertise the shares of a company is known as a?
Options:
A) memorandum of satisfaction
B) dividend warrant
C) deed
D) prospectus
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The correct answer is D .
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Question 10: Public debt management is one of the functions of a?
Options:
A) merchant bank
B) central bank
C) commercial bank
D) development bank
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The correct answer is B .